👀 Sam Altman's back

Absence (and protest) made OpenAI's heart grow fonder | Binance's CEO pleaded guilty to criminal charges | [Finimize](   TOGETHER WITH   Hi {NAME}, here's what you need to know for November 23rd in 3:12 minutes.   🦃 Give yourself something to really be thankful for this year. Grab a ticket to our [Modern Investor Summit]( – the biggest event of its kind for retail investors – to discover investing tips and predictions from Wall Street's finest. Your future self will thank you, but maybe not over a turkey leg. [Grab your free ticket]( Today's big stories - OpenAI’s CEO is back, less than five whole days after he was booted out by the board - Five education stocks that could ace the AI revolution – [Read Now]( - Binance pleaded guilty to criminal charges, but the crypto exchange can keep running – for a fee Fire Drill [Fire Drill] What’s going on here? Sam Altman was [reinstated]( as OpenAI’s CEO, proving that the five-day test run without him was more hassle than it was worth. What does this mean? Netflix scriptwriters have just been handed the plot of the year – unless AI can whip up a screenplay first, that is. In the last drama-filled few days, OpenAI’s cofounder was CEO, ex-CEO, head of Microsoft’s new AI lab, and now, CEO again – a lifetime of achievements most can only dream of. The side character’s ready to be cast too: former treasury secretary Larry Summers unexpectedly landed a seat on the board. You can bet the office was full of whispers when Altman clocked in on Wednesday, but let’s hope the focus wasn’t lost for long: OpenAI’s working on potentially humankind-ending technology, after all. Why should I care? The bigger picture: Follow the leader. Altman certainly built quite a reputation for himself at OpenAI, or maybe he was known for bringing in snacks every Friday. More than 90% of the company’s workers threatened to quit after the shock firing, while big-name tech executives threw their compliments at the cofounder. That amount of dependence is known as a “key-man risk” for a company, and while most CEOs won’t make or break a firm, any small businesses that have pinned their hopes on a single leader may be inspired to draft more locked-in contract terms right about now. Zooming in: It’s about the principle, promise. OpenAI’s protesting staff may have been sacrificing themselves to support the firm’s visionary, it’s true. But with a round of fundraising – expected to value the firm at nearly $90 billion – coming up, there was probably another motive at play. Staff will be able to cash in their shares at the next round, which will make most of them millionaires. Altman’s departure could have jeopardized that price tag, though, so OpenAI workers arguably had a financial incentive to keep him around. You might also like: [Sam Altman, Microsoft, and the OpenAI mayhem explained](. Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Fire Drill&utm_campaign=daily-global-23-11-2023&utm_source=email) Analyst Take AI Could Send These Five Education Stocks To The Head Of The Class [AI Could Send These Five Education Stocks To The Head Of The Class]( [Photo of Stéphane Renevier] Stéphane Renevier, Analyst Sometimes investors focus too much on risks and too little [on opportunities](. When ChatGPT burst onto the scene, investors sold off shares in [education companies]( like Chegg, believing the new technology would edge these firms out. But, here’s the thing about generative AI: harnessed by education firms, it could [pull companies’ grades from a B to an A+](. That’s today’s Insight: [five education stocks that could ace the AI revolution](. [Read or listen to the Insight here]( SPONSORED BY IG Black Friday matters for stocks, too You’ve probably bookmarked a slightly-too-big television and a new pair of boots in preparation. But this Black Friday, you’ll want to keep [IG]( open on one tab. After all, folks’ impulse buys don’t just clutter up storage cupboards: they can [make or break a company’s week](, month, or sometimes, even its year. So if you want to get ahead of the curve, you’ll need to [read IG’s assessment of which stocks you should be watching this holiday shopping season](. [Get ahead of holiday shopping for once](. DisclaimerYour capital is at risk. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. [Find Out More]( When you support our sponsors, you support us. Thanks for that. Proof-Of-Snake [Proof-Of-Snake] What’s going on here? Binance [pleaded guilty]( to criminal charges in one of the biggest corporate agreements in US history. What does this mean? US authorities finally announced a settlement with Binance, putting an end to years of investigation. The world’s biggest cryptocurrency exchange admitted on Tuesday that it failed to take basic anti-money laundering steps, an oversight that meant terrorists, hackers, and sex offenders could use the site to reshuffle their funds. In return for the admission, the US will let the exchange keep running. Not for free, mind you: Binance now owes $4.3 billion in fees, while the disgraced CEO has to step down, pay $50 million, and maybe even face prison time. But hey, at least he’ll join an exclusive club brimming with the likes of Sam Bankman-Fried of FTX, Alex Mashinsky of Celsius, and Do Kwon of Terraform Labs. Why should I care? For crypto markets: Time to win over the traditionalists. Folk that still carry paper notes may be calling this the end of crypto, but the decision to not shut down Binance entirely is more likely to mark a milestone for regulation in the space. Regulators are keen to bolster compliance and market stability in crypto companies, without stifling innovation. And it looks like the shift’s already started: Binance’s new CEO cut his teeth in Singaporean central banks, no interweb or multi-colored keyboards in sight. The bigger picture: Crypto’s holding its own. Binance’s legal troubles have been weighing on the crypto market for the past year, so this kinder-than-feared resolution has lightened the load on investors’ shoulders. Case in point: similar events in traditional sectors have been known to trigger a panicked stock dump, but crypto investors seem, at worst, ambivalent. Such resilience in the face of potentially major upheavals could be just the publicity crypto needs, showcasing its evolution into a more stable and mature market. You might also like: [Binance 101, the crypto giant that covers all the bases.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Proof-Of-Snake&utm_campaign=daily-global-23-11-2023&utm_source=email) 💼 Introducing Finimize For Business We're helping financial firms publish [first-class content]( that keeps investors engaged, active, and up to speed. After all, we don’t hoard our treasures: we prefer to [share them](. [Book A Demo]( 💬 Quote of the day "Where there is love there is life." – Mahatma Gandhi (an Indian lawyer and political ethicist) [Tweet this]( SPONSORED BY AMERICAN ASSOCIATION OF INDIVIDUAL INVESTORS (AAII) No more “what ifs” Even the best investors have “[what-if opportunities](”, ones they ignored or completely missed. 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The opinions and analyses included herein are based on sources believed to be reliable and written in good faith, but no representation or warranty, expressed or implied, is made as to their accuracy, completeness, timeliness, or correctness. Continue reading disclaimer [here](. When you support our sponsors, you support us. Thanks for that. 🎯 On Our Radar 1. Beer is nice. [Beer with monks]( is transformative. 2. The metaverse could change everything. Prepare yourself for a [new investing landscape](.* 3. Beauty is pain. Men are going under the knife to [get dimples](. 4. You can't have DeFi without stablecoins. Here's [how they work and why they're so important](.* 5. Diabetes medicines are verging on a revolution. Stanford University scientists are [tinkering with hydrogels](. When you support our sponsors, you support us. Thanks for that. 🌍 Finimize Live [Modern Investor Summit]( ❤️ Share with a friend Thanks for reading {NAME}. 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